The Analytical Overview of the Main Currency Pairs on 2017.11.08

The EUR/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.16097

Open: 1.15859

% chg. over the last day: -0.08

Day's range: 1.15851 – 1.16111

52 wk range: 1.0341 – 1.2069

Yesterday's trading on EUR/USD was quite active. However, a unidirectional trend was not observed. The euro continues to be in a sideways trend. The key trading range is still 1.15800-1.16200. Positions should be opened if the price fixes above/below these markers. We recommend paying attention to the government bonds yield and up-to-date information on the tax reform in the United States.

The publication of important economic reports from the Eurozone and the US is not planned.

The indicators do not send accurate signals. The price has fixed between 50 MA and 200 MA, which are quite strong dynamic levels of support and resistance.

The MACD histogram is near the 0 mark.

Stochastic Oscillator is located in the neutral zone, the %K line has crossed the %D line. There are no signals at the moment.

Trading recommendations

Support levels: 1.15800, 1.15500

Resistance levels: 1.16200, 1.16600, 1.17000

If the price fixes below the support level of 1.15800, we recommend you to look for entry points to the market to open short positions. The movement is tending to 1.15500-1.15250.

Alternative option. If the EUR/USD quotes overcome the level of 1.16200, it is necessary to consider purchasing. The target movement level is 1.16600-1.16850.

The GBP/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.30693

Open: 1.31663

% chg. over the last day: +0.73

Day's range: 1.31413 – 1.31777

52 wk range: 1.1450 – 1.3618

At the moment, GBP/USD is being traded in a flat. From the beginning of this week, strong support and resistance levels were formed: 1.31250 and 1.31750, respectively. The trading instrument has the potential to further reduce. We recommend opening positions from these marks. Today, the publication of important economic reports from the UK is not planned.

It is necessary to pay attention to the news feed on the US economy.

The price has fixed below 50 MA and 200 MA, which indicates the power of sellers.

The MACD histogram does not provide accurate signals. The indicator is located near the 0 mark.

Stochastic Oscillator has reached the oversold zone, the %K line is below the %D line, which gives a weak signal to sell GBP/USD.

Trading recommendations

Support levels: 1.31250, 1.30750, 1.30400

Resistance levels: 1.31750, 1.32400

If the price fixes below the support level of 1.31250, we recommend considering sales of GBP/USD. The movement is tending to 1.30750-1.30400. When following a position, one should use a trailing stop.

The USD/CAD currency pair

Technical indicators of the currency pair:

Prev Open: 1.27032

Open: 1.27762

% chg. over the last day: +0.46

Day's range: 1.27455 – 1.27775

52 wk range: 1.2059 – 1.3795

Yesterday, the bullish sentiment prevailed on USD/CAD. At the same time, the currency failed to overcome the round level of 1.28000, which caused a correction movement. At the moment, the technical pattern is ambiguous. The price is testing the local support of 1.27500. The nearest resistance is at the level of 1.27750. We recommend opening positions from these marks.

At 15:15 (GMT+2:00) statistics on the real estate market in Canada will be released.

Stochastic Oscillator is located in the neutral zone, the %K line has crossed the %D line. There are no signals at the moment.

Trading recommendations

Support levels: 1.27500, 1.27000

Resistance levels: 1.27750, 1.28000

If the price fixes below the local support of 1.27500, we recommend considering selling USD/CAD. The movement is tending to 1.27200-1.27000.

Alternative option. If the USD/CAD quotes overcome the level of 1.27750, it is necessary to search for entry points to the market to open long positions. The target level of movement is 1.28000-1.28250.

The USD/JPY currency pair

Technical indicators of the currency pair:

Prev Open: 113.701

Open: 113.988

% chg. over the last day: +0.04

Day's range: 113.642 – 114.023

52 wk range: 99.53 – 118.67

At the moment, the bearish sentiment prevails on the USD/JPY currency pair. The price is testing the key support of 113.750. The round level of 114.000 is the nearest resistance. We do not exclude the further drop in USD/JPY. We recommend paying attention to the US government bonds yield.

The news background on Japan's economy is calm.

The indicators point to the power of sellers. The price has fixed below 50 MA and 200 MA.

The MACD histogram is in the negative zone and continues to decline, which signals a fall in USD/JPY.

Stochastic Oscillator is located in the neutral zone, the %K line is below the %D line, which also gives a signal to sell USD/JPY.

Trading recommendations

Support levels: 113.750, 113.400, 113.000

Resistance: 114.000, 114.250

If the price fixes below the key support level of 113.750, we recommend selling USD/JPY. The movement is tending to 113.400-113.000. When following a position, one should use a trailing stop.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer,
and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.